Chilean Lender Brings 5-year

Banco del Estado de Chile has printed a $500m 2017 bond, after generating more than $1bn in demand. The government-owned lender priced at 99.650 with a 2.00% coupon to yield 2.074% or UST+137.5bp, in line with UST+137.5bp-150bp guidance. The bonds were trading up 0.125 points in the grey, according to a trader. Leads were heard calculating 0bp-2bp concession, based on a G-spread level of 135bp for the bank’s outstanding 2022 bonds. In all, about 100 accounts participated. Citi, Deutsche Bank, HSBC and JPMorgan led the 144A/RegS transaction, rated Aa3/A+/A+. The sale follows the $500m 2022, sold in February via Deutsche Bank and JPMorgan.